SNB’s Jordan: Will decide on case by case basis when and how much to intervene in forex market

SNB President Thomas Jordan crossing the wires via Reuters, as he speaks at post-decision press conference.

Key Quotes:

Switzerland highly exposed to developments abroad

SNB will monitor Brexit situation “closely” and take measures “if required”

Negative interest rates are “absolutely essential” instrument for the bank

Higher interest rates would make Swiss Franc more attractive

SNB now decides on case by case basis when and how much to intervene in forex market

Negative interest rates and willingness to intervene make Franc less attractive